Cub$ sold, (pause) and now back on the market!Tribune, after months of pleading for someone with a checkbook to be bought out, settled on real estate mogul Sam Zell.
Because he owns stake in the White Sox, he will have to sell the Cub$, after the 2007 season - which began today, with a loss. Someone ought to keep track of that...
Some so-called 'analysts' have estimated that the Cubs could fetch $600 million or more. Perhaps even more if you were able to factor in a winning team if they were to consistently get into the playoffs.
Remember, the Tribune bought the team in 1981 for $20.5 million. However, this was 1981 dollars, and you couldn't even buy a couple hockey teams and a new stadium for that paltry sum.
Its strength as a sports franchise — and the lure of potentially steering them to their first championship in a century — has attracted the interest of many potential buyers. Billionaire entrepreneur Mark Cuban, actor Bill Murray and columnist George Will are among those rumored to have interest, along with numerous Chicago business figures. Uh, yeah, and I'll keep holding my breath. Turning blue...
Bottom line? This is an interesting development, if anything it prolongs the agony of having Tribune employees continue to oversee the team for a year - and yet another distraction, or an excuse for when they come in 4th place after spending $325 million dollars.
Well, not their money anyway - the poor sucker who buys the team's money.
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